Else Nutrition Announces Closing of $20.7 Million Upsized Bought Deal Public Offering and Concurrent $5 million Private Placement

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[{"type":"text","content":"Else Nutrition Announces Closing of $20.7 Million Upsized Bought Deal Public Offering and Concurrent $5 million Private PlacementVANCOUVER, BC / ACCESSWIRE / October 6, 2020 / ELSE NUTRITION HOLDINGS INC. (TSXV:BABY)(OTCQX:BABYF)(FSE:0YL) (\"Else\" or the \"Company\"), is pleased to announce that it has closed its previously announced upsized bought deal public offering of units (the \"Units\") for ‎aggregate gross proceeds of approximately CAD$20.7 million, including the exercise of the over-allotment option in full (the \"Offering\"). The Company issued ‎‎9,200,000 Units at a price of CAD$2.25 per Unit, each Unit consisting of one common share of the ‎Company (a \"Share\") and one-half of one common share purchase warrant, with each whole warrant (a \"Warrant\") ‎entitling the holder to purchase one Share at the price of CAD$3.25 per Share until October 6, 2022. ‎The Company has received approval from the TSX Venture Exchange (\"TSXV\") to list the Warrants issued pursuant to the Offering, and the Warrants are expected to be listed and posted for trading on the TSXV under the ticker symbol \"BABY.WT\" effective on or about October 8, 2020.Concurrent with the Offering, the Company issued 2,224,111 Units on a private placement basis, for additional gross proceeds of approximately CAD$5 million (the \"Private Placement\"). New H2 Limited (\"New H2\"), a wholly owned subsidiary of Health and Happiness (H&H) International Holdings Ltd, a Hong Kong Stock Exchange company (HK:1112), subscribed for CAD$4,000,000 worth of Units in the Private Placement pursuant to a previously disclosed investor rights agreement dated March 2, 2020 between the Company and New H2.In total, the Company received gross proceeds of approximately CAD$25.7 million from the closing of the Offering and Private Placement.The Offering was conducted on a bought deal basis by Canaccord Genuity Corp. and Haywood ‎Securities Inc. (collectively, the \"Underwriters\"). On closing, the Company issued to the Underwriters an aggregate ‎of 597,920 broker warrants (the \"Broker Warrants\"), each Broker Warrant entitling the holder to ‎purchase one Share at the price of CAD$2.25 per Share until October 6, 2022.‎The Units issued pursuant to the Offering were offered by way of a short form prospectus fil...

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